Redditors gave Wall Street traders an absolute pasting

[PTR]

I don't believe we can use them anyway, can we?

Never looked into it, but they are the folks who likely colluded with Citadel to remove the buy button when the original "meme stock boom" happened earlier in the year, forcing all buying pressure down massively, and saving the arse of hedge funds.
It was a criminal act that they got away with.

They've done it since too, although not a brazen, with "technical issues" at least once when crypto was bombing, they stopped people from selling.

 

[chopperrus]

Not sure if you invested or not but you are probably thinking what's that dick got me into, so I thought I would give you a bit of an update to why things look so grim.

Basically what convinced me to invest was that this stock had been badly shorted by large institutions and the price wasn't the real price. The company is potentially a massive company. It had another earnings report at the beginning of November and it was good again.

What I didn't realise was how much people like bank of America and I think citadel had shorted the stock. It was so bad that they had lowered the price so much everyone stopped selling. So the shares that borrowed to short the stock couldn't be returned. They had no choice but to keep the price suppressed. They couldn't return the shares and they couldn't afford to buy them back without the price going mental. There was completed stalemate. They literally couldn't let it run.

So (this has not been confirmed) what looks to have happened is that the shares that couldn't be returned was 60 million shares. Clover have just don't a share offering of 60 million shares. I think these shares have gone straight to the big institutions to get out of the mess they created. What makes me say this is the initial offering was 45 million shares. Then the data (which had never been confirmed was released) the institutions came out and said they owed 60 million shares and clover revised their offering, I don't think it's a coincidence. Plus the shared were never offered to the open market and were bough straight away.

The price drop is the market reacting to the introduction of new shares. It has totally spooked the normal investors and they have ran for the hills.

As much I was pissed off that the people keeping the price down have been given a get out of jail free card if it breaks the stalemate and lets the share price find it's natural level then so be it.

Don't panic, we should see the price become the fair price soon enough....I hope.

Cheers, appreciate that.

 

[monkeytassle]

Cheers, appreciate that.

I wouldn't because it's utter nonsense

 

[Mr.Thunders]

Canny meltdown took place on this thread

 

[Wild Card]

I wouldn't because it's utter nonsense

I don't think it is. I wouldn't do it do someone on here. I think the data supports it. There was a short interest outstanding of between 25 and 35 million shares, and the wall was always 25 million (thats not including the naked shorts which were undisclosed). the days to return the shares were never met. Take a look at the data. What I said about the offering was opinion only but I genuinely believe that I was offered to to bail out some of the big institutions who have been shorting it to oblivion. Large companies like vanguard, google, Ballie Gifford all bough in at around $7.5 and then it was shorted below that. Then the daily volume completely then died, the data looked like it was just algorithms trading between each other. Every day when the price went down, the short interest and amount of borrowed shares grew, thats not people selling. Look at the ladder attacks each day, its unnatural. The company has a lot of cash reserves, they don't need the cash at this point. they just bough back all their warrants in the last quarter. The shares were offered on a direct placement only and will never hit the general market.

I guess we will see soon enough, the price is $5.75 and the share placement expires end of business tonight. I think it will rise because the shorts will be out. but we will see.

 

[PTR]

I don't think it is. I wouldn't do it do someone on here. I think the data supports it. There was a short interest outstanding of between 25 and 35 million shares, and the wall was always 25 million (thats not including the naked shorts which were undisclosed). the days to return the shares were never met. Take a look at the data. What I said about the offering was opinion only but I genuinely believe that I was offered to to bail out some of the big institutions who have been shorting it to oblivion. Large companies like vanguard, google, Ballie Gifford all bough in at around $7.5 and then it was shorted below that. Then the daily volume completely then died, the data looked like it was just algorithms trading between each other. Every day when the price went down, the short interest and amount of borrowed shares grew, thats not people selling. Look at the ladder attacks each day, its unnatural. The company has a lot of cash reserves, they don't need the cash at this point. they just bough back all their warrants in the last quarter. The shares were offered on a direct placement only and will never hit the general market.

I guess we will see soon enough, the price is $5.75 and the share placement expires end of business tonight. I think it will rise because the shorts will be out. but we will see.

Are you talking about GME? Because those are the exact discussion points for GME

The "naked" shorts seem to not have been naked at all, but actually "Covered" with ridiculously low options that are never likely to be excercised. They'll just keep buying more options and kicking the can down the road.
At least when GME sold extra stock, they did it on the market. Now the company has about $2bn in cash and zero debt. So how the SHFS think they're going to get away with this is beyond me. Feels like nothing other than can kicking for as long as possible.
DRS is the new gameplan from the retail owners.

 

[Edinburgh Black Cat]

I don't think it is. I wouldn't do it do someone on here. I think the data supports it. There was a short interest outstanding of between 25 and 35 million shares, and the wall was always 25 million (thats not including the naked shorts which were undisclosed). the days to return the shares were never met. Take a look at the data. What I said about the offering was opinion only but I genuinely believe that I was offered to to bail out some of the big institutions who have been shorting it to oblivion. Large companies like vanguard, google, Ballie Gifford all bough in at around $7.5 and then it was shorted below that. Then the daily volume completely then died, the data looked like it was just algorithms trading between each other. Every day when the price went down, the short interest and amount of borrowed shares grew, thats not people selling. Look at the ladder attacks each day, its unnatural. The company has a lot of cash reserves, they don't need the cash at this point. they just bough back all their warrants in the last quarter. The shares were offered on a direct placement only and will never hit the general market.

I guess we will see soon enough, the price is $5.75 and the share placement expires end of business tonight. I think it will rise because the shorts will be out. but we will see.

Looks an extremely risky investment to me.

No profits to date, losses forecast until at least 2023. Analyst ratings not looking great.

 

[Wild Card]

Looks an extremely risky investment to me.

No profits to date, losses forecast until at least 2023. Analyst ratings not looking great.

it is a young company, expanding aggressively, it may fail, I cannot imagine that the American medical industry is going to let someone disrupt the party without a fight. But what i like about it. is the tech its has, its a new company in a lucrative market, with modern up to date tech. It personally think it will be a good investment. I stress the word investment because like you say, while its expanding the way it is the profit isn't there. It may take time but I don't mind that. Since I have been following it (last two earning reports) it has smashed forecasts and is growing/becoming more profitable quicker than expected. Nothing is guaranteed, but I feel at this price the upside is more than the downside, especially with all the shorted shares.

Are you talking about GME? Because those are the exact discussion points for GME

The "naked" shorts seem to not have been naked at all, but actually "Covered" with ridiculously low options that are never likely to be excercised. They'll just keep buying more options and kicking the can down the road.
At least when GME sold extra stock, they did it on the market. Now the company has about $2bn in cash and zero debt. So how the SHFS think they're going to get away with this is beyond me. Feels like nothing other than can kicking for as long as possible.
DRS is the new gameplan from the retail owners.

It was a similar short attack, a lot of naked shorting through the dark pool. To the extent the the SEC has specifically put in legislation in relation to clover. I think it banned all naked shorting on clover, from what I remember clover was specially mentioned in the legislation. The difference is, in my opinion is GME and AMC were dying companies andand clover is a potential rising star. I dont know if this is true but the owner of clover got involved by encouraging the investors to invest in GME and AMC and hold to stick one to the shorts and then in turn suffered the same fate.

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[Deleted member 26533]

Keep an eye on Clover Health, the game of chess between the Large shorting hedge funds and the retail and institutional long term holders is fascinating. Fake law suits, fake share reviews, discord in chat rooms etc. All becuase it has been shorted to the point nobody will sell at. circa 30 million shares borrowed and a 25 million wall they cannot buy back. They are trying to pass the buck to smaller hedge funds. All this discord to try and make it look like the company is failing to try and shake people out of the physical shares they had and emotionally drain them. its really interesting if you are into that sort of thing.

whats made it even harder for them is, google, ballie gifford and fidelity has said i'll have some of that at that price and they will absolutely not sell. the price movements to them are irrelevant at this point.

@PTR

I added this to my watchlist to just to see how things went over the next few months. Did you end up selling?

 

[Wild Card]

I added this to my watchlist to just to see how things went over the next few months. Did you end up selling?

No, I don't intend to yet. I still believe in the company but the us stock seems fucked at the minute. I'm not sure what is going on in the us market at the minute everything is tanking. Clover is heavily shorted but they have been covering slowly. My theory is that it will run when they have covered. Their market cap at this share price is nearly the same as their annual revenue which to me seems crazy low. I think this price is a giveaway, but then I thought that at 8 as well. It has gone from 8 to 3.69 yet the news from the company and company reports have all been decent.

I still believe in the company but have resigned to waiting longer than I wanted but I guess that is the difference between gambling and investing sometimes, this shorting shit has put me right off investing in the US markets mind. Won't be doing that again in a hurry. What happened to picking a company you like and letting it run naturally. Shorting my large hedge funds should be illegal. The cost to borrow on clover is -0.09 which means someone is paying people to short it.

 

[monkeytassle]

No, I don't intend to yet. I still believe in the company but the us stock seems fucked at the minute. I'm not sure what is going on in the us market at the minute everything is tanking. Clover is heavily shorted but they have been covering slowly. My theory is that it will run when they have covered. Their market cap at this share price is nearly the same as their annual revenue which to me seems crazy low. I think this price is a giveaway, but then I thought that at 8 as well. It has gone from 8 to 3.69 yet the news from the company and company reports have all been decent.

I still believe in the company but have resigned to waiting longer than I wanted but I guess that is the difference between gambling and investing sometimes, this shorting shit has put me right off investing in the US markets mind. Won't be doing that again in a hurry. What happened to picking a company you like and letting it run naturally. Shorting my large hedge funds should be illegal. The cost to borrow on clover is -0.09 which means someone is paying people to short it.

Spx is off like 2% from the all time highs. Fed signalled earlier tightening and run off of the balance sheet.

 

[PTR]

I added this to my watchlist to just to see how things went over the next few months. Did you end up selling?

Sell? Goodness no.
No idea how its all going to play out for GME, but as I said from the very start, I bought lottery tickets - I get rich or I lose my stake.

The information keeps coming from GME and tbh there's probably too much to talk about here, but a lot of things have come out in the last few months. The 2 big things that are happening now are the push to directly register shares, so that they cannot be lent to short sellers (seems almost all the "retail" brokers have been lending shares out - even those who said they didn't/wouldn't do that). The idea here is to lock the float. Rough estimates are about 40% of the float is locked already.

The other thing people are waiting on is to see what GME and Loopring are doing. All the rumours are that they are creating a NFT marketplace, and that it may be to buy digital, but unique, copies of games - meaning it isn't just a licence that can be revoked and cannot be re-sold. The rumours also extend to this marketplace being kicked off by giving a dividend in a unique token (e.g. GMECoin) based on this NFT marketplace. That could be a silver bullet, as it would uncover any naked shorts / "fake" shares that are out there (thought to be at least 5x the number of real shares)

 

[Deleted member 26533]

Sell? Goodness no.
No idea how its all going to play out for GME, but as I said from the very start, I bought lottery tickets - I get rich or I lose my stake.

The information keeps coming from GME and tbh there's probably too much to talk about here, but a lot of things have come out in the last few months. The 2 big things that are happening now are the push to directly register shares, so that they cannot be lent to short sellers (seems almost all the "retail" brokers have been lending shares out - even those who said they didn't/wouldn't do that). The idea here is to lock the float. Rough estimates are about 40% of the float is locked already.

The other thing people are waiting on is to see what GME and Loopring are doing. All the rumours are that they are creating a NFT marketplace, and that it may be to buy digital, but unique, copies of games - meaning it isn't just a licence that can be revoked and cannot be re-sold. The rumours also extend to this marketplace being kicked off by giving a dividend in a unique token (e.g. GMECoin) based on this NFT marketplace. That could be a silver bullet, as it would uncover any naked shorts / "fake" shares that are out there (thought to be at least 5x the number of real shares)

I was on about that Clover Health mate.

Interestingly, GME seem to have fundamentally improved as a company thanks to the crazy WSB run.

 

[PTR]

Interestingly, GME seem to have fundamentally improved as a company thanks to the crazy WSB run.

Well yesterday was interesting.
As soon as after hours trading started, the stock leapt 30%!

But the wierd thing was that loads of media outlets had an explaination out inside of an hour. Which means those stories had clearly already been written. They were about the announcment of the new NFT/Digital Marketplace that everyone has been rumouring, and how this explains the surge in pricing.

And then 2 more things about that
1 - Nope. GME didn't announce anything. So the stories were untrue / jumping the gun. Makes you wonder why they all pushed that story...... is it a "given them a nice reason" story rather than the admission that something more sinister was going on (like a margin call, or a HF beign liquidated, or a huge number of FTDs having to be covered)
2 - If that story had been true, why was only private trading for the big players in the after-hours market involved?

Its all very bizarre.

 

[PTR]

.
Not sure if this'll bump or not?

COE accounted a Dividend last night, in the form of extra shares. Looks like everyone will get 7 shares for every 1 they currently have.
Its not a stock split though, its just a divident, apparently. So the price won't reduce by 1/7th automatically - the market will have to find the correct price.

Could play out interesting. Its something both Apple and Tesla did with great success.

 

[Walter Ego]

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[PTR]

.
Not sure if this'll bump or not?

COE accounted a Dividend last night, in the form of extra shares. Looks like everyone will get 7 shares for every 1 they currently have.
Its not a stock split though, its just a divident, apparently. So the price won't reduce by 1/7th automatically - the market will have to find the correct price.

Could play out interesting. Its something both Apple and Tesla did with great success.

"COE accounted"
Am I blind?

CEO announced. Is what I meant. Jesus.

 

[RestlessNatives]

"COE accounted"
Am I blind?

CEO accounced. Is what I meant. Jesus.

Easy for you to say.

 

[PTR]

Easy for you to say.

Fuck me!
I haven't even started drinking yet

 

[Hucknalls Fluffer]

.
Not sure if this'll bump or not?

COE accounted a Dividend last night, in the form of extra shares. Looks like everyone will get 7 shares for every 1 they currently have.
Its not a stock split though, its just a divident, apparently. So the price won't reduce by 1/7th automatically - the market will have to find the correct price.

Could play out interesting. Its something both Apple and Tesla did with great success.

Without checking that share price a split normally takes place to make the shares more attractive to retail investors. I had Tesla shares and they got up to about $700 a pop. This makes them harder to buy for normal folk who fancy a punt, they’ll therefore reduce the price and give you more shares making them a bit more attractive to retail.

If there is a load of demand from the layman (not institutional investors) it could be good for the people that hold those shares.

What’s the price at presently out of interest?

Ps. Whilst it’s not a share split anything that puts more shares in circulation normally dilutes the share price as a simple company value = number of shares in circulation X share price